Legal Question in Real Estate Law in New Jersey
3 Brothers in partnership
My husband and his 2 brothers inherited equal shares in one property in Vermont when their mother passed away 3 years ago. The money that was held in escrow to pay for taxes and upkeep on this land has been exhausted. My husband wants out of this partnership but his brothers do not want to sell the house/land yet. Can he force them to sell or buy him out for fair market value?
1 Answer from Attorneys
Re: 3 Brothers in partnership
Yes. The method to do that is a suit for partition. Since the land is located in Vermont, the suit must be brought in Vermont. Any experienced real property lawyer will be able to help.
If you want to take a shot at avoiding a family conflict and keeping things local, you might have a lawyer closer to you write to the brothers and explain that there is weight behind the "offer" to sell and that they should take advantage of it.
By the way, partition claims are always stronger if the plaintiff can offer the defendant the inverse option of "I will buy you out." Sometimes that is imposssible, but it helps when the option is available.
If I can be of further help to you, call or email.
See also: http://info.corbettlaw.net/lawguru.htm
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